iTalk Reports LOI to Acquire Eezinet Corp.
Jun 04, 2013 (Close-Up Media via COMTEX) --
iTalk Inc., a global provider of advanced communications and mobile broadband services, announced that it has signed a Letter-of-Intent ("LOI") to acquire Eezinet Corp. ("Eezinet"), a multi-state FCC licensed Competitive Local Exchange Carrier (CLEC) focused on the deployment of broadband and related services in rural America.
According to a release, the potential transaction, as currently contemplated, would result in iTalk acquiring 100 percent of Eezinet including all of its assets, licenses, subsidiaries, obligations, and contract rights, including three (3) Federal Communications Commission (FCC) Broadband PCS Spectrum Licenses; WQCS447-BTA178 (Greenwood, South Carolina), WQCS448-BTA329 (Oklahoma City, Oklahoma), WQCS449-BTA411 (Scotts Bluff, Nebraska).
"Spectrum is the lifeblood of the mobile communications industry and as more consumers buy smartphones, which according to the FCC, use 24 times more data than traditional cell phones, and tablets, which can consume 122 times more data, there is a growing need for available spectrum. As a result, the industry and the FCC have declared a spectrum shortage," noted David F. Levy, Chief Executive Officer of iTalk Inc. "This is an even greater issue in areas unserved or underserved by the major telecoms. We look forward to working with the Eezinet team as they work to build out their proposed wired and wireless networks and achieving the full service and revenue potential of the three Eezinet broadband spectrum licenses."
Eezinet Corp. is a privately held Competitive Local Exchange Carrier (CLEC), specializing in the deployment and ownership of rural communication networks utilizing its multi-state broadband licenses and fiber optic networks (Shared Infrastructure for Broadband and Smart Grid Applications) for Rural America.
iTalk, Inc. is a publicly traded global provider of communications and mobile broadband services.
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